Oil Slump and the Imperative for Approaches to Financial Prudence in Governance in Nigeria
Abstract
This study investigates the approaches to financial prudence in governance in Nigeria in the face of the slump in the price of oil at the international market. The general objective of the study was to determine the appropriate approaches to financial prudence in governance in Nigeria. Through a purposive means, 200 respondents were purposively selected in Enugu State. Findings showed that the appropriate approaches to financial prudence in governance in Nigeria are effective internal audit, proper budget process and better project implementation. Finding further showed that the financial prudence in governance can avoid waste of financial resources to a large extent. The researcher recommends among others that government should ensure financial prudence in all her dealings with a view to ensuring prudence utilization of financial resources.
Keywords: approach, governance, oil, finance and slump
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